Improving Profit Performance – There are two sides to the coin
There are two-sides to profit. There is profit (or loss) from a product, a service or a new business venture. Then there is the profit (or loss) people get from relationships with business. This is the more important one because it determines the degree of financial success. For shareholders, profit is purely financial but for others profit may be the profit they get from an enjoyable job, working with interesting people or leading an exciting project. For others it may be the pleasure of buying a product that delivers what it says on the tin or a friendly chat with a call center agent.
Profit comes in different formats. To enhance financial profit we need to improve customer’s profit, supplier’s profit, environment’s profit, society’s profit and then you will truly have created something sustainable.